The Co-Founder and Chief Executive Officer, Appzone, Obi Emetarom, speaks with TEMITAYO JAIYEOLA on how fintech is impacting payment system

The Nigerian fintech space has evolved over the years and is driving innovation in the financial service sector. What do you think has been its most defining moment? And as a follow-up, do you think there is now a saturation of fintech solutions in the market?

Without a doubt, the most defining moment for me would be the point where Fintech start-ups less than five years old achieved equity valuations more than some of the largest and most valuable traditional financial services providers in the country.

This demonstrates significant growth in service adoption but also a strong belief by the investor community in a future where financial services delivery is being led and potentially dominated by fintech players.

With respect to saturation, I wouldn’t necessarily say so. What we have seen is a situation where certain fintech segments with lower barriers to entry have experienced more proliferation of products than others. While certain other areas remain rich with opportunities for more innovation

Every fintech claims to want to bank the unbanked but fintech services can majorly be accessed on smartphones, and a huge section of the Nigerian population do not have smartphones. How can fintechs truly bank the unbanked? How can they drive financial inclusion?

First of all not all, fintech’s target (or claim…